- unrelated business income tax
- Tax levied on the unrelated business taxable income of an exempt organization.
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.
Unrelated Business Income Tax — (UBIT) in the U.S. Internal Revenue Code is the tax on unrelated business income, which comes from an activity engaged in by a tax exempt 26 USCA 501 organization that is not related to the tax exempt purpose of that organization.RequirementsFor… … Wikipedia
unrelated business income — Income recognized by an exempt organization that is generated from activities not related to the exempt purpose of the entity. For instance, the pharmacy located in a hospital often generates unrelated business income. I.R.C. No. 511. In order… … Black's law dictionary
unrelated business income — Income of a tax exempt organization from a trade or business not substantially related to the purpose of the organization which exempts it from income tax. Internal Revenue Code § 512(b)(12) … Ballentine's law dictionary
income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… … Universalium
Unrelated Business Tax Income — Income earned by a tax exempt entity that does not result from tax exempt activities. The entity may owe taxes on this income. Bloomberg Financial Dictionary … Financial and business terms
Unrelated Business Taxable Income - UBTI — Income regularly generated by a tax exempt entity by means of taxable activities. This income is not related to the main function of the entity, but is needed to generate a small portion of income. If an investor holds an Individual Retirement… … Investment dictionary
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 — Effective (Various dates for different provisions) Citations Public Law Public Law 111 312 Stat … Wikipedia
tax exempt entity — USA An entity that is generally exempt from paying federal and state taxes. The entity generally must apply for a federal and state determination that it is exempt from taxes. Certain income of a tax exempt entity may still be subject to tax,… … Law dictionary
business finance — Raising and managing of funds by business organizations. Such activities are usually the concern of senior managers, who must use financial forecasting to develop a long term plan for the firm. Shorter term budgets are then devised to meet the… … Universalium
BUSINESS ETHICS — The Role of Wealth Any discussion of business ethics, within any cultural or religious framework, requires at the very outset a definition of the role of material wealth, financial assets, and other forms of economic possessions. Furthermore,… … Encyclopedia of Judaism